Updated

ES MFI went oversold premarket

ES MFI went oversold pre-market as did RTY (small cap), NQ barely above oversold.

Flipped all my puts (EL, ABC, SFIX and KAMN). Made decent money this week. Staying out unless I see something good, probably a whipsaw day.

Much like yesterday, I'm inclined to believe the market is headed up after the gap fades a bit on profit taking.

Note

Hmm expected the gap to fade but didn't expect the market to go red. Certainly did not expect small caps to drop, would have held my SFIX puts a bit longer.

Still think the market will finish green today, but might be a lot of whipsaw, so no day trades.

Note

OK, market melting up now as I expected. Hope nobody here chased the gap fill. I got a couple of CTSH puts for earnings tomorrow to make some weekend beer money, that's it. If it heads up to $82, I might take a real stab at it, it's right up against resistance.

Note

Note: Daily MFI is dropping on ES1!, SPX, and SPY. No expecting a big rally, but more of this sideways bull flag until the daily gets oversold. Then probably another rally because the market is pumptarded.

As usual, I play it day by day on short term indicators so take my prediction with a grain of salt.

hungry_hippo

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hungry_hippo